FxWirePro: AUD/JPY Trade Idea

AUD/JPY chart on Trading View used for analysis

FxWirePro Currency Strength Index for AUD/JPY: Bias Bearish
FxWirePro's Hourly AUD Spot Index was at -140.193 (Bearish)
FxWirePro's Hourly JPY Spot Index was at 87.3245 (Bullish)

Technical Analysis: Bias Bearish
- 5-DMA has turned lower
- price has slipped below 200-DMA
- Stochs and RSI are sharply lower
- MACD shows bearish crossover on signal line
- Recovery remains capped at 20-DMA

Support levels - 81.65 (110-EMA), 81.22 (50% Fib), 80.60 (61.8% Fib)
Resistance levels - 81.87 (200-DMA), 82, 82.65 (5-DMA)

Recommendation: Good to go short arouns 81.80, SL: 82.30, TP: 81.25/ 80.60

For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.